Transcribed from attached press release: "LITTLE BIT Only an inch and a quarter in diameter, this "microbit" enables engineers at the Hughes Tool Company, Houston, Texas, to estimate the performance of full-size bits for the oil drilling industry. The company operates the largest testing laboratory of its kind anywhere in the world and produces thousands of rock bits necessary to drill deeper and deeper as the world's shallow oil wells have become exhausted. Howard Hughes terms the Hughes Tool company the "keystone" of his industrial empire."
Transcribed from attachment to photo: "NEW LONG-RANGE PLANE ANNOUNCED CULVER CITY, CALIF., The FX-11 took off today on its first test flight. One of the world's fastest long-range photographic planes, it was designed and built by Howard Hughes in conjunction with Air Materiel Command engineers. It has a wing spread of 101 feet, 4 inches, and is powered by two 3000-horsepower radial engines with eight-bladed contra-rotating propellers. Army officials said it can attain a speed of more than 400 miles per hour and has a ceiling of more than 40,000 feet." Transcribed from photo sleeve: "Howard Hughes sits in the cockpit of the XF-11, a reconnaissance plane that Hughes built and designed in conjunction with Air Materiel Command engineers. Hughes is preparing for his first test flight in Culver City, California July 7, 1947."